SNP urges corporation tax switch

SNP urges corporation tax switch

The Scottish National Party proposes amendments to the finance bill to allow the devolved bodies the power to vary corporation tax rates

Treasury spokesman Stewart Hosie tabled the amendments following the
chancellor’s visit to Northern Ireland, during which he did not rule out lower
corporation tax levels for the province.

The move follows calls from Ulster’s local parties and businesses for the
rates to be brought down from the current UK rate of 30% to the 12.5% of the
Republic of Ireland.

Hosie, who sits on the committee debating the finance bill, said: ‘Pressure
has been building in recent months in Northern Ireland for a range of fiscal
incentives, such as a cut in the rate of corporation tax. The chancellor has not
ruled out such a move. ‘With Scottish growth stubbornly below that of the UK, we
too would benefit from having the ability to encourage growth in Scotland with
lower corporation taxes. In fact, it is SNP policy.

‘The SNP wants Scotland to have the same opportunities as other independent
nations. With responsibility for all our finances, Scotland could start to match
the success of nations like Ireland, Norway and Finland.’

Related Articles

Watch out when winding up

Corporate Tax Watch out when winding up

3m Emma Rawson, ATT Technical Officer
How might Brexit affect UK tax policy?

Brexit & Economy How might Brexit affect UK tax policy?

3m Santhie Goundar
Corporation tax losses – your newly flexible friends

Corporate Tax Corporation tax losses – your newly flexible friends

5m Emma Rawson, ATT Technical Officer
HMRC large business tax enquiry duration rises to 3 years

Corporate Tax HMRC large business tax enquiry duration rises to 3 years

6m Emma Smith, Managing Editor
SMEs paying higher rate of corporation tax than big businesses

Corporate Tax SMEs paying higher rate of corporation tax than big businesses

6m Alia Shoaib, Reporter
Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

9m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

9m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

10m Alia Shoaib, Reporter